offshore banking Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “offshore banking” in the English Dictionary

"offshore banking" in Business English

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offshore bankingnoun [U]

uk   us  
BANKING, FINANCE the ​practice of using a ​bank that is not ​based in your own country, because, for ​example, ​taxes are ​lower there: Consult us for ​advice on ​offshorebanking in ​taxhavens.
(Definition of offshore banking from the Cambridge Business English Dictionary © Cambridge University Press)
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